Financial Results Presentation for the Second Quarter (Interim Period) of the Fiscal Year Ending March 2027 | Odakyu Electric Railway Co.,Ltd. (9007) timely disclosure

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Direction

Mixed performance

Direction inferred from the company’s description.

Scale

1000

¥ million (increase from the forecast as of May for full-year operating profit)

Wording

Conditional

How definitive the wording is.

Contents of this document

Earnings presentationSecond quarter (interim period) of the fiscal year ending March 202712 items taken from the company’s own explanation

Financial Results Figures (The key points of this material are explained below)

Net Sales205,717 Millions of yen +3.7%operating revenue

Operating profit¥30,540 million+8.9%

Ordinary income¥28,543 million+3.9%

Net income¥26,608 million +15.3%interim net income attributable to owners of the parent

Operating profit margin14.8%, +0.7 percentage points year on year

Full-year earnings forecast

Operating revenue

¥461,300 million

Operating profit

¥55,000 million

Ordinary income

¥48,600 million

Profit attributable to owners of the parent

¥38,300 million

Capital expenditures

¥132,800 million

What the company explained in this material

Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.

First-half operating revenue (vs. prior period)

Transportation3,829

Real Estate875

Lifestyle Services2,809

Adjustments-245

First-half operating profit (vs. prior period)

Transportation1,597

Real Estate559

Lifestyle Services343

Adjustments6

First-half operating revenue (vs. May forecast)

Transportation372

Real Estate-4,907

Lifestyle Services-1,349

Adjustments1

First-half operating profit (vs. May forecast)

Transportation915

Real Estate789

Lifestyle Services123

Adjustments12

Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.

Railway passengers carriedCommuter passes +1.3%, non-commuter +2.1%, total +1.7%

Railway transportation revenueCommuter passes +1.4%, non-commuter +2.5%, miscellaneous transportation revenue +7.3%, total +2.2%

Planned number of units to be recognized as real estate sales441 units (+211 units year on year)

Number of investment development projects scheduled for sale5 projects (+3 projects year on year)

Existing-store merchandise sales in the store division+2.4%

Impact of hotel operations suspensionOperating revenue: ¥2.4 billion decrease

New initiatives

Renovation work at Hotel Century Southern Tower (hotel operations suspended from 1 October 2026)
¥20 billion in share repurchases by the end of December 2026
Full-year operations of RETONA HAKONE, which opened on 15 December 2025

Key KPIsA metric the company considers important as a management benchmark.

Passenger numbers369,040 thousand people
Year-on-year (%)1.6
Transportation revenue¥61,975 million
Year-on-year (%)2.1
Tourism revenue¥42,864 million
Year-on-year (%)11.5
Inbound tourism revenue¥14,846 million
Year-on-year (%)26.8
Odakyu Department Store merchandise sales¥30,857 million
Year-on-year (%)2.3
Room occupancy rate (Hotel Century Southern Tower)91.3 %
Year-on-Year Change (Points)2.8

Unit price and quantity metricsThese figures show sales broken down by price and volume.

Passenger numbers and transportation revenue
Volume369,040
Volume unitthousand people
Pricing metric61,975
Price unit¥ million
Average room rate at hotels in the Hakone area+5.0% year on year
Units sold65 Lots and units
Year on year against the same period last year-12.0%

Segment results

Transportation

Operating revenue

¥93,972 million+4.2%

Operating profit

¥20,015 million+8.7%

Real Estate

Operating revenue

¥40,692 million+2.2%

Operating profit

¥7,189 million+8.4%

Lifestyle Services

Operating revenue

¥79,150 million+3.7%

Operating profit

¥3,323 million+11.5%

Medium-term management plan targets

FY2030 ROEAt least 10%

FY2030 operating profitAt least ¥80 billion

FY2026 ROE8.0%

FY2026 operating profit¥55 billion

Interest-bearing debt/EBITDA ratioAround 7x in fiscal 2026 and fiscal 2030

Financial targets

ROE

Fiscal 20268.0%

FY2030At least 10%

ROA

Fiscal 20262.7%

Equity ratio

Fiscal 2025 year-end36.4%

Interim period of fiscal 202636.7%

FY2030 target30%

Interest-bearing debt/EBITDA ratio

FY2026 forecast7.8x

TargetIn the 7x range

Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.

Suspension of lodging operations at Hotel Century Southern TowerOperating revenue: ¥2.4 billion decrease

Capital expenditures

¥21,812 million interim-period actual

Annual Dividend

Fiscal 2026¥60 per share

Interim Dividend¥30

Year-end dividend¥30

Acquisition of treasury shares

Acquisition cost¥20 billion

PeriodThrough the end of December 2026

Contents of this document
Item	Details
Document type	Earnings presentation
Fiscal Period Covered	Second quarter (interim period) of the fiscal year ending March 2027
Net Sales	205,717 Millions of yen (operating revenue) (YoY +3.7%)
Operating profit	¥30,540 million (YoY +8.9%)
Ordinary income	¥28,543 million (YoY +3.9%)
Net income	¥26,608 million (interim net income attributable to owners of the parent) (YoY +15.3%)
Operating profit margin	14.8%, +0.7 percentage points year on year
Full-year earnings forecast	Operating revenue ¥461,300 million / Operating profit ¥55,000 million / Ordinary income ¥48,600 million / Profit attributable to owners of the parent ¥38,300 million / Capital expenditures ¥132,800 million
Segment results	Transportation Operating revenue ¥93,972 million (YoY +4.2%) / Operating profit ¥20,015 million (YoY +8.7%) / Real Estate Operating revenue ¥40,692 million (YoY +2.2%) / Operating profit ¥7,189 million (YoY +8.4%) / Lifestyle Services Operating revenue ¥79,150 million (YoY +3.7%) / Operating profit ¥3,323 million (YoY +11.5%)
Breakdown of Factors Affecting the Change	First-half operating revenue (vs. prior period) Transportation 3,829 / Real Estate 875 / Lifestyle Services 2,809 / Adjustments -245 / First-half operating profit (vs. prior period) Transportation 1,597 / Real Estate 559 / Lifestyle Services 343 / Adjustments 6 / First-half operating revenue (vs. May forecast) Transportation 372 / Real Estate -4,907 / Lifestyle Services -1,349 / Adjustments 1 / First-half operating profit (vs. May forecast) Transportation 915 / Real Estate 789 / Lifestyle Services 123 / Adjustments 12
Key KPIs	Indicator name Passenger numbers / Value 369,040 thousand people / Year-on-year (%) 1.6 thousand people, Indicator name Transportation revenue / Value ¥61,975 million / Year-on-year (%) ¥2.1 million, Indicator name Tourism revenue / Value ¥42,864 million / Year-on-year (%) ¥11.5 million, Indicator name Inbound tourism revenue / Value ¥14,846 million / Year-on-year (%) ¥26.8 million, Indicator name Odakyu Department Store merchandise sales / Value ¥30,857 million / Year-on-year (%) ¥2.3 million, Indicator name Room occupancy rate (Hotel Century Southern Tower) / Value 91.3 % / Year-on-Year Change (Points) 2.8 %
Unit price and quantity metrics	Indicator name Passenger numbers and transportation revenue / Volume 369,040 / Volume unit thousand people / Pricing metric 61,975 / Price unit ¥ million, Indicator name Average room rate at hotels in the Hakone area / Value +5.0% year on year, Indicator name Units sold / Value 65 Lots and units / Year on year against the same period last year -12 Lots and units
Assumptions Underlying the Business Outlook	Railway passengers carried Commuter passes +1.3%, non-commuter +2.1%, total +1.7% / Railway transportation revenue Commuter passes +1.4%, non-commuter +2.5%, miscellaneous transportation revenue +7.3%, total +2.2% / Planned number of units to be recognized as real estate sales 441 units (+211 units year on year) / Number of investment development projects scheduled for sale 5 projects (+3 projects year on year) / Existing-store merchandise sales in the store division +2.4% / Impact of hotel operations suspension Operating revenue: ¥2.4 billion decrease
Risk amount incorporated into the outlook	Suspension of lodging operations at Hotel Century Southern Tower Operating revenue: ¥2.4 billion decrease
Medium-term management plan targets	FY2030 ROE At least 10% / FY2030 operating profit At least ¥80 billion / FY2026 ROE 8.0% / FY2026 operating profit ¥55 billion / Interest-bearing debt/EBITDA ratio Around 7x in fiscal 2026 and fiscal 2030
Financial targets	ROE Fiscal 2026 8.0% / FY2030 At least 10% / ROA Fiscal 2026 2.7% / Equity ratio Fiscal 2025 year-end 36.4% / Interim period of fiscal 2026 36.7% / FY2030 target 30% / Interest-bearing debt/EBITDA ratio FY2026 forecast 7.8x / Target In the 7x range
Annual Dividend	Fiscal 2026 ¥60 per share / Interim Dividend ¥30 / Year-end dividend ¥30
Acquisition of treasury shares	Acquisition cost ¥20 billion / Period Through the end of December 2026
Capital expenditures	¥21,812 million (interim-period actual)
New initiatives	Renovation work at Hotel Century Southern Tower (hotel operations suspended from 1 October 2026), ¥20 billion in share repurchases by the end of December 2026, Full-year operations of RETONA HAKONE, which opened on 15 December 2025

Items this document does not state (11)

Gross Profit MarginSelling, general and administrative expensesResults for the three months of the current quarterProgress against full-year forecastSelf-assessment against the planNumber of stores and locationsNumber of employeesPayout ratioOrders received and order backlogMarket Size / ShareKey points of the Q&A

These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.

The reasons the company gives

The company's own explanation, not something inferred from the numbers.

Higher revenue and profit in the interim period were driven by increased passenger numbers and fare revisions in the transportation business, higher commercial facility rental income in the leasing business, improved revenue at existing stores and new store openings in the stores and retail business. The upward revision to the full-year operating profit forecast reflects factors including increased passenger numbers in the Company's railway business.

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